Overview
This article serves as a step-by-step guide on how to enter budget adjustment details in Task List 3 of Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS).
Prerequisites
Access to Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS) is required to use the Budget Adjustment Module. If EPBCS access is needed, please reference, KB0035018: How to Request Access to Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS) for instructions.
Before you make any budget adjustments, you will need to identify where your available resources are for a transfer. To do this, first open Task 4.1 to locate available Resource Budgets and make note of the relevant Financial Unit, Fund, Function and Account Code. If no resources exist to transfer, then the transfer should not continue as it would result in a deficit budget. For more information, visit KB0035510: How to Use Task 4.1 to View Core Recurring Budget Resources by Account Code.
Once you have identified available resources, you need to claim an available budget adjustment ID by following the steps in KB0035506: How to Claim a Budget Adjustment ID in Task 3.1.
Essential Information
Oracle Planning and Budgeting Task List 3 is a transactional budget module for entering and processing recurring resource budget adjustments. Task 3.2 is where you will enter details for any Budget Adjustment ID's claimed in Task 3.1 across the following data entry columns:
- Adjustment Account
- Adjustment Destination Financial Unit
- Adjustment Destination Function
- Adjustment Amount
- Adjustment Description
- Budget Adjustment Pushed
The form will render with available rows for the number of IDs you claimed in Task 3.1.
Definitions
Budget Adjustment Source: Refers to the chart string elements from which the budget adjustment originates. Typically, the source chart string would transfer resource budget out to another unit (the destination).
Budget Adjustment Destination: Refers to the chart elements that receive the budget adjustments. Typically the destination chart elements will have additional budget resources added to their budget.
Budget Adjustment ID: Unique identifier for each Budget Adjustment record. These are claimed on Task 3.1 according to the corresponding SOURCE point of view selection for Financial Unit, Fund, and Function.
Adjustment Account: A select few resource accounts are relevant for the core recurring budget in EPBCS. The Account Codes available for the transfer of resources are:
- 774960: Recurring Non Compensation Xfr
- 774961: Recurring Staff Salaries Xfr
- 774962: Recurring Staff Benefits Xfr
- 774963: Recurring Faculty Salaries Xfr
- 774964: Recurring Faculty Benefits Xfr
- 774965: Recurring ICR Xfr
Pushing a Budget Adjustment: This is the final step in processing a budget adjustment and it will send the data into budget entry forms in Task List 4 and beyond. Once a budget adjustment has been pushed, it cannot be edited. If changes are needed, a secondary budget adjustment will need to be created to make changes as necessary.
Steps to Take
1. On the Oracle Planning & Budgeting home screen, click on the Tasks tile
2. Expand caret to see list of tasks under 3 - Create and Manage Core Recurring Budget Adjustments
3. Click on Task 3.2 Enter Budget Adjustment Details to open the form
4. In the first editable row, click in the white editable cell in 'Adjustment Account' column to use dropdown arrow and select an account
5. Use the dropdown arrow to select an Adjustment Destination Financial Unit
6. Use the dropdown arrow to select an Adjustment Destination Function
7. Type in an Adjustment Amount (Signage Note: transfer of funding out to another unit is to be entered as a positive figure.)
8. Type in an appropriate Adjustment Description
9. Press Save in upper-right corner of the form. All edited cells turn white.
10. When you are ready to push the adjustment, use the dropdown arrow to select "Adjustment Ready to Push" value in the final column. Note that once a budget adjustment has been pushed, it can no longer be edited or changed. Updates will need to be handled via separate adjustment entries to reverse and/or adjust.
11. Press Save in upper-right corner of the form. Both edited rows will now disappear from Task 3.2 and a pop-up window will appear stating that data has been saved and rule was run successfully.
12. Click OK to clear the pop-up window
General Section
Q: How does a budget adjustment differ from an OFC Journal to transfer resources?
A: A financial journal does not update the budget, and entries in the Budget Adjustment Module do not impact current year resources on the General Ledger. When transferring one-time resources, an OFC journal is sufficient for the current year's financial transactions. However, to impact your recurring budget, a budget adjustment record must also be entered in EPBCS.
Q: How can you work on more than one budget adjustment ID at a time?
A: Before saving in Task 3.1, claim multiple IDs (as long as they correspond to the same source chart elements) by dragging down from the initial cell you claimed. Then Task 3.2 will populate with rows for all the Budget Adjustment IDs that you have claimed.